TIDMCRC

RNS Number : 7130C

Circle Property PLC

02 October 2018

2 October 2018

Circle Property Plc

("Circle" or the "Company")

Successful lease regear

Circle Property Plc, the specialist regional UK office investment, development and management company, announces that it has successfully concluded a lease renegotiation with a major tenant at the Company's biggest asset, Kents Hill Business Park in Milton Keynes.

The tenant has agreed to the removal of two break clauses at year 15 and 20 in its lease, which has 23 years remaining before expiry.

John Arnold, CEO of Circle Property Plc, commented: "By successfully renegotiating this lease we have significantly enhanced the certainty of long-term income, which is now RPI linked and so creates an institutional quality asset. This is a major endorsement for the asset and further validates our active asset management approach. We anticipate this will be positive to NAV."

ENDS

This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.

 
                         +44 (0)20 7930 
 Circle Property Plc      8503 
 John Arnold, CEO 
  Edward Olins, COO 
 
                        +44 (0) 20 7131 
 Smith & Williamson      4000 
 Azhic Basirov 
  Katy Birkin 
 
  Radnor Capital 
  Joshua Cryer            +44 (0) 20 3897 
  Iain Daly               1830 
 FTI Consulting         +44 (0)20 3727 1000 
 Giles Barrie 
  Richard Sunderland 
  Eve Kirmatzis

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END

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October 02, 2018 07:00 ET (11:00 GMT)

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